Everest Bank to Float 30 Lakh Units of “7.5% Everest Bank Debenture 2091”
July 17, 2024 | Investopaper
Everest Bank Ltd. (EBL) is going to issue a debenture named “7.5% Everest Bank Debenture 2091”. For this purpose, the bank has submitted an application to the Securities Board of Nepal (SEBON) on Ashad 20, 2081 BS seeking permission to issue the debenture.
If approved by SEBON, Everest Bank will float 30 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 3 Arba.
Out of the total issue, the bank will sell 18 lakh units debenture worth Rs. 180 crores through private placement. Likewise, the general public can apply for the remaining 12 lakh units that amount to Rs. 120 crores. Out of the general public’s quota, 5 percent has been reserved for the mutual fund schemes.
The debenture will provide 7.5 percent interest per annum to the investors. The maturity period of the debenture is 10 years. Hence, the bank will refund the principal amount in 2091 BS.
Everest Bank has appointed Laxmi Sunrise Capital Limited the issue and sales manager for the debenture. An agreement has already been reached between the bank and Laxmi Sunrise Capital in this regard.
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